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Re: Key republican bolts from debt ceiling talks

But we're not talking about tax cuts here. We are not talking about raising taxes on certain income brackets. We are talking about killing subsidies that allowed corporations to pay NOTHING IN TAXES AND GET CREDITS last year. GE paid nothing in taxes but got a tax credit in the hundred millions. Is that right? Absolutely not, but your GOP friends think it's ok. We are talking about loopholes allowing 47% of Americans to pay NOTHING in taxes.

Re: Key republican bolts from debt ceiling talks

Originally Posted by Gargantuan

But we're not talking about tax cuts here. We are not talking about raising taxes on certain income brackets. We are talking about killing subsidies that allowed corporations to pay NOTHING IN TAXES AND GET CREDITS last year. GE paid nothing in taxes but got a tax credit in the hundred millions. Is that right? Absolutely not, but your GOP friends think it's ok. We are talking about loopholes allowing 47% of Americans to pay NOTHING in taxes.

From what I'd heard, the reason GE paid no taxes last year was because they wrote off huge losses from years prior.

Re: Key republican bolts from debt ceiling talks

You can prove this? Note importantly that proving revenue gains does not in fact prove your point, since the system is fairly complex and you are not isolating a variable.

Conclusion

The Reagan tax cuts, like similar measures enacted in the 1920s and 1960s, showed that reducing excessive tax rates stimulates growth, reduces tax avoidance, and can increase the amount and share of tax payments generated by the rich. High top tax rates can induce counterproductive behavior and suppress revenues, factors that are usually missed or understated in government static revenue analysis. Furthermore, the key assumption of static revenue analysis that economic growth is not affected by tax changes is di sproved by the experience of previous tax reduction programs. There is little reason to expect static revenue analysis to evaluate the economic or distributional effects of current tax reform proposals much better than it evaluated the Reagan tax program 15 years ago.

Re: Key republican bolts from debt ceiling talks

Originally Posted by Gargantuan

But we're not talking about tax cuts here. We are not talking about raising taxes on certain income brackets. We are talking about killing subsidies that allowed corporations to pay NOTHING IN TAXES AND GET CREDITS last year. GE paid nothing in taxes but got a tax credit in the hundred millions. Is that right? Absolutely not, but your GOP friends think it's ok. We are talking about loopholes allowing 47% of Americans to pay NOTHING in taxes.

GE got the hook up cause the company is run by folks in bed with Obama...

Re: Key republican bolts from debt ceiling talks

Do you have anything from an economist who is not a supply side republican?

We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham
Iíve always believed that America is an idea, not defined by its people but by its ideals. - Lindsey Graham

Re: Key republican bolts from debt ceiling talks

Those pictures are lame and have been discounted repeatedly by pretty much every one with an education. Does the phrase "isolating a variable" mean anything to you? How about the phrase "correlation does not mean causation"? The economy almost always grows(it is rare enough that if it doesn't for 6 months, it is called a recession), and if the economy grows, tax revenue grows. So all your charts do is show the economy grows, and no one argued otherwise.

We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham
Iíve always believed that America is an idea, not defined by its people but by its ideals. - Lindsey Graham

Re: Key republican bolts from debt ceiling talks

Originally Posted by Whovian

LIES! ALL LIES!

They gave money to the GOP in 2008, not Obama...
<sarcasm>

That was debunked. I believe someone personally debunked it to Mr.Vicchio yet he continues to make that point. They were low-mid level GE employees who donated to Obama's campaign, along with millions of other Americans who donated to Obama's campaign which raked in unprecedented amounts of donations.

Re: Key republican bolts from debt ceiling talks

Originally Posted by Gargantuan

That was debunked. I believe someone personally debunked it to Mr.Vicchio yet he continues to make that point. They were low-mid level GE employees who donated to Obama's campaign, along with millions of other Americans who donated to Obama's campaign which raked in unprecedented amounts of donations.

so you admit GE employees gave to Obama (as is their right). And that massive support from GE employees had 'nothing' to do with any tax breaks and such that GE got since the election, right?